California Public Employees Retirement System increased its stake in Astronics Co. (NASDAQ:ATRO) by 13.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,529 shares of the aerospace company’s stock after purchasing an additional 2,629 shares during the period. California Public Employees Retirement System owned 0.08% of Astronics worth $774,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in shares of Astronics by 6.2% in the 2nd quarter. BlackRock Inc. now owns 2,616,726 shares of the aerospace company’s stock worth $94,122,000 after purchasing an additional 153,154 shares during the last quarter. Paradice Investment Management LLC lifted its holdings in shares of Astronics by 7.8% in the 2nd quarter. Paradice Investment Management LLC now owns 638,225 shares of the aerospace company’s stock worth $22,957,000 after purchasing an additional 46,233 shares during the last quarter. Federated Investors Inc. PA bought a new stake in shares of Astronics in the 2nd quarter worth approximately $5,172,000. Mutual of America Capital Management LLC lifted its holdings in shares of Astronics by 20.2% in the 2nd quarter. Mutual of America Capital Management LLC now owns 134,059 shares of the aerospace company’s stock worth $4,822,000 after purchasing an additional 22,534 shares during the last quarter. Finally, United Services Automobile Association lifted its holdings in shares of Astronics by 58.0% in the 2nd quarter. United Services Automobile Association now owns 115,558 shares of the aerospace company’s stock worth $4,157,000 after purchasing an additional 42,410 shares during the last quarter. 70.96% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider James S. Kramer sold 11,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $46.02, for a total value of $543,036.00. Following the sale, the insider now directly owns 42,003 shares in the company, valued at approximately $1,932,978.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 16.57% of the stock is owned by company insiders.
ATRO opened at $29.73 on Friday. Astronics Co. has a 12 month low of $27.56 and a 12 month high of $49.45. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.68 and a current ratio of 3.05. The company has a market capitalization of $842.44 million, a P/E ratio of 23.78, a price-to-earnings-growth ratio of 2.09 and a beta of 1.96.
Astronics (NASDAQ:ATRO) last posted its earnings results on Thursday, November 8th. The aerospace company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.47 by $0.05. Astronics had a return on equity of 13.48% and a net margin of 3.71%. The firm had revenue of $212.67 million for the quarter, compared to analysts’ expectations of $208.59 million. During the same period last year, the firm earned $0.21 EPS. The firm’s revenue was up 42.1% compared to the same quarter last year. As a group, research analysts expect that Astronics Co. will post 1.44 earnings per share for the current fiscal year.
ATRO has been the topic of several recent research reports. Zacks Investment Research raised Astronics from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Wednesday, October 3rd. Canaccord Genuity restated a “hold” rating and issued a $41.00 target price on shares of Astronics in a research report on Friday, August 3rd. ValuEngine cut Astronics from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. TheStreet upgraded Astronics from a “c+” rating to a “b-” rating in a research report on Tuesday, October 9th. Finally, BidaskClub cut Astronics from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $42.25.
Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, electronics, and semiconductor industries worldwide. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems; electrical power generation, distribution, and motions systems; aircraft structures; avionics products; system certification; and connectivity and other products.
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